MidAtlantic Capital Management Inc. Invests $27,000 in Trane Technologies plc (NYSE:TT)

MidAtlantic Capital Management Inc. purchased a new position in shares of Trane Technologies plc (NYSE:TT) during the third quarter, HoldingsChannel reports. The firm purchased 70 shares of the company’s stock, valued at approximately $27,000.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Trane Technologies by 35,914.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Trane Technologies by 1.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,438,515 shares of the company’s stock valued at $559,194,000 after buying an additional 18,403 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Trane Technologies by 0.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after buying an additional 2,898 shares during the last quarter. Raymond James & Associates raised its position in shares of Trane Technologies by 3.1% in the 3rd quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock worth $418,462,000 after buying an additional 32,079 shares during the period. Finally, Swedbank AB boosted its holdings in Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TT shares. Barclays lifted their target price on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Finally, UBS Group assumed coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Price Performance

NYSE TT opened at $409.70 on Tuesday. The firm’s 50 day moving average is $389.37 and its 200-day moving average is $353.97. Trane Technologies plc has a 12-month low of $221.22 and a 12-month high of $421.78. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $92.19 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.79 earnings per share. Equities research analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio is currently 31.17%.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.